Mnubo raises $16.5M Series B from Munich Re/HSB Ventures, White Star Capital, McRock Capital and other investors
New investment accelerates global expansion of IoT data solutions and brings AI-driven financial products to the connected equipment market in partnership with HSB
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Founded in 2012 and headquartered in
The investment led by
“We’re thrilled about this strategic partnership with Mnubo to bring to market a suite of financial and insurance related products based on Artificial Intelligence (AI) and Machine Learning (ML) on IoT equipment datasets,” Barats said. "HSB can help Mnubo’s customers realize meaningful results from their IoT investments."
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About Mnubo
Founded in 2012 and headquartered in
About HSB
Hartford Steam Boiler (HSB), a member of Munich Re’s Risk Solutions family since 2009, is a leading specialty insurer providing equipment breakdown, other specialty coverages, inspection services and engineering-based risk management that set the standard for excellence worldwide. We focus on clients and partner with them to craft inventive insurance and service solutions to cover existing and emerging risks posed by technological change. Today, as throughout our 150 year history, our mission is to use our engineering knowledge and insights to help clients prevent loss, advance sustainable use of energy resources and build deeper relationships that benefit business, industry, public institutions and consumers. HSB holds A.M. Best Company’s highest financial rating, A++ (Superior). For more information, visit www.hsb.com and connect on LinkedIn, Twitter and Facebook.
About Munich Re
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2016, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €2.6bn. It operates in all lines of insurance, with over 43,000 employees throughout the world. With premium income of around €28bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in ERGO, one of the leading insurance groups in
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Source: Mnubo
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